HT Reports Solid First Quarter Business Results

Hrvatski Telekom maintained its growth trajectory in 1Q26, delivering 1.6% YoY revenue growth, supported by positive service revenue growth and continued growth in the System Solutions business. Adjusted EBITDA AL increased by 2.5% YoY, reflecting top-line strength, disciplined cost management, and ongoing transformation measures.

Net profit after non-controlling interests reached €29.9 million, reflecting improved operating performance and the absence of exceptional items on the cost side recorded in 1Q25. Investments reached €62.6 million, up by 4.1% YoY, underscoring HT’s continuous commitment to expanding state-of-the-art fiber and mobile infrastructure across Croatia. During Q1, HT continued to expand its FTTH network in Croatia, increasing its footprint by an additional 16% year-on-year in new households and businesses covered.

In line with its long-term network development strategy, HT signed a Share Purchase Agreement to acquire of 100% stake in the company PRO-PING d.o.o., a regional broadband provider. Closing of the transaction is subject to regulatory approvals, and it is expected to occur during 2026. 

The Management Board and Supervisory Board proposed to the General Assembly a dividend of €1.69 per share, directly benefiting nearly 146,000 shareholders, including private individuals and institutional investors, who directly participate in the company’s success. The proposed dividend represents a payout ratio of 92.8% of realized profit, with a dividend yield of 4.2%, based on the last price on 23 March 2026.

Despite the still-volatile environment, HT expects to maintain its growth trajectory in 2026, with both revenue and Adjusted EBITDA AL projected to grow at a low single-digit rate. Following the elevated investment cycle in previous years, CAPEX AL is expected to decline moderately, at a low single-digit rate. The company’s stance on regional expansion remains unchanged, as it continues to assess potential M&A opportunities diligently.

“In 1Q26, Hrvatski Telekom delivered solid results, continuing our growth momentum,” said Nataša Rapaić, CEO of Hrvatski Telekom. ”Performance across mobile, fixed, and ICT reflects our focus on continuous improvement and our commitment to delivering best-in-market network quality and customer experience. With over €62 million in investments, we are expanding fiber and 5G networks across Croatia, building a robust digital platform that goes beyond connectivity and supports economic growth and social progress. This is reflected in continued double-digit growth in FTTH coverage (+16%) and further improvements in 5G performance, which are on par with leading European benchmarks. Looking ahead, we will further strengthen our market leadership, sustain growth, and continue investing in critical infrastructure, while accelerating the use of AI across our operations. This will support long-term business development, shareholder value, and the creation of broader value for our customers, the economy, and society.”